Software is eating the world and now it has recently begun smelling it as well. The fragrance industry is starting to go through deep digital transformation processes that address its core competencies, and naturally so, is thus very affected by artificial intelligence (AI). In contrast to information-based industries such as finance and insurance, fragrance took longer to undergo digital transformation because entry barriers for startups and innovation, in general, are higher. CapEx (capital expenditures) involving chemical compounds and labs, together with higher OpEx (operational expenditure) for interdisciplinary talent, make it less susceptible to disruption.

Read more here.